Key takeaways
PI has reclaimed the $0.1500 degree after dropping beneath this vital space on Tuesday.
The optimistic efficiency comes following the mainnet improve.
Pi Community has reversed its downward pattern on Wednesday, climbing above the $0.1500 degree following a significant infrastructure improve to its mainnet nodes.
At press time, PI traded round $0.1518, extending current losses whereas technical indicators hinted at the potential for a short-term rebound.
Pi Core crew completes main mainnet improve
The Pi Core Workforce introduced that main mainnet nodes have efficiently upgraded to Stellar protocol model 23, reflecting the mission’s reliance on the Stellar blockchain infrastructure.
The replace additionally included a number of backend enhancements, similar to migrating the working system from Ubuntu 20 to Ubuntu 24 and upgrading the database engine from PostgreSQL 12 to PostgreSQL 16.
The newest improve is geared toward bettering community efficiency, safety, and long-term scalability because the ecosystem continues to evolve.
PI value outlook: Technical indicators counsel a attainable restoration
The PI/USD 4-hour chart remains to be bearish and environment friendly as PI has underperformed over the previous few days.
The bearish efficiency comes regardless of the infrastructure progress. The token is at present buying and selling beneath each the 50-period Exponential Transferring Common (EMA) close to $0.1605 and the 200-period EMA round $0.1709, sustaining a broader bearish outlook.
Nevertheless, momentum indicators counsel promoting strain could also be weakening. The Relative Power Index (RSI) has dropped to close 29, signaling oversold situations whereas additionally forming a optimistic divergence as value approaches Tuesday’s low of $0.1463.
The sort of divergence usually factors to a possible reversal or short-term bounce. If shopping for momentum will increase, PI might try to retest a descending trendline resistance close to $0.1519.
In the meantime, the Transferring Common Convergence Divergence (MACD) indicator stays flat beneath the zero line, indicating fading bearish momentum however not but confirming a bullish restoration.
A profitable breakout above the $0.1519 resistance degree might open the door for a stronger restoration towards the 50-EMA at $0.1605, adopted by the 200-EMA close to $0.1709.
On the draw back, the current low at $0.1463 stays a vital assist zone. A each day shut beneath that degree might invalidate rebound expectations and probably set off extra draw back strain for Pi Community.
